Post by James Rottnek on Apr 20, 2008 2:51:49 GMT -5
OOC: Thanks to Stephen Davis from TAR IC:
In the Senate of the United States,
Mr. ROTTNEK submits for himself,
A Bill
To secure the blessings of prosperity for future generations by preserving the Social Security system without increasing taxes.
Be it enacted by the House of Representatives and the Senate of the United States,
Section 1: Title
The title of this bill shall be; “Preservation of Social Security Act,”
Section 2: Findings
Social Security is a long established system that creates stability within the fixed income community,
Social Security in the current form will have a negative cash flow in 2020 and will be completely bankrupt in 2040 according to current projections,
Creating a sustainable benefits system is necessary to preserving future benefits,
Indexing benefits to inflation would reduce the growth rate of benefits to cover the entire shortfall without harming current benefits,
Section 3: Provisions
The growth rate of Social Security benefits shall be indexed to inflation rather than wages,
Section 4: Enactment
This bill will shall be enacted upon the President’s signature.
Section 5: Plain English Summary
Social Security is preserved through adjustment of the growth rate index. Current benefits will not change, but future benefits will grow at a slower rate in order to protect against bankruptcy of the Social Security Trust Fund.
In the Senate of the United States,
Mr. ROTTNEK submits for himself,
A Bill
To secure the blessings of prosperity for future generations by preserving the Social Security system without increasing taxes.
Be it enacted by the House of Representatives and the Senate of the United States,
Section 1: Title
The title of this bill shall be; “Preservation of Social Security Act,”
Section 2: Findings
Social Security is a long established system that creates stability within the fixed income community,
Social Security in the current form will have a negative cash flow in 2020 and will be completely bankrupt in 2040 according to current projections,
Creating a sustainable benefits system is necessary to preserving future benefits,
Indexing benefits to inflation would reduce the growth rate of benefits to cover the entire shortfall without harming current benefits,
Section 3: Provisions
The growth rate of Social Security benefits shall be indexed to inflation rather than wages,
Section 4: Enactment
This bill will shall be enacted upon the President’s signature.
Section 5: Plain English Summary
Social Security is preserved through adjustment of the growth rate index. Current benefits will not change, but future benefits will grow at a slower rate in order to protect against bankruptcy of the Social Security Trust Fund.
